As competition in the multibillion-dollar space industry heats up, the U.K.'s OneWeb and France's Eutelsat have combined.
as customers and caters primarily to large enterprises rather than consumers. Likewise, OneWeb also targets enterprise customers, but offers a different service capability thanks to its LEO network – similar to SpaceX's Starlink satellite internet. Starlink initially focused on consumers, but has since entered enterprise markets that OneWeb targeted.
Eutelsat will remain headquartered in Paris, and OneWeb will continue operating in London with its name changed to Eutelsat OneWeb. Eutelsat is listed on the Euronext Paris Stock Exchange but has applied for a secondary listing on the London Stock Exchange. Commercial deals are gaining traction in the space industry, with Musk's Starlink service working alongside businesses including Spain'spartnered with European satellite operator SES
"A lot of especially the shareholders who are there, who like the annual dividend are saying maybe we'll take our time and money elsewhere, and go there [but] we have another set of shareholder coming in," Berneke told CNBC in an interview at the Viva Technology conference in Paris.
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